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Warren Company plans to depreciate a new building using the double declining-balance depreciation method. The building cost is $720,000. The estimated residual value of the

Warren Company plans to depreciate a new building using the double declining-balance depreciation method. The building cost is $720,000. The estimated residual value of the building is $42,000 and it has an expected useful life of 25 years.

What is the buildings book value at the end of the first year?

$28,800.

$31,238.

$662,400.

$57,600.

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